How Production Costs have Outstripped Media Rates
Harry Henry
In an article in the June 26th issue of Campaign Dick Johnson, who besides being director of marketing services of Procter & Gamble is chairman of the executive committee of the Incorporated Society of British Advertisers, observed: If airtime inflation had risen in line with RPI in the past ten years, 1 .4 billion would have been saved in advertising costs.
One cannot quarrel too much with his arithmetic (though I calculate a rather larger figure) but the proposition could have been expressed differently: if advertisers over...